Item 5. Market for Registrant’s Common Equity
ITEM 5. Market for the Registrant's Common Equity, Related Shareholder Matters and I ssuer Purchases of Equity Securities
Our common stock trades on The NASDAQ Global Select Market under the stock ticker symbol "DXPE".
On March 4, 2022, we had approximately 384 holders of record for outstanding shares of our common stock. This number does not include shareholders for whom shares are held in “nominee” or “street name”. We do not anticipate paying cash dividends on our common stock in the foreseeable future. The payment of any future dividends will be at the discretion of our Board of Directors and will depend upon, among other things, future earnings, the success of our business activities, regulatory and capital requirements, lenders, and general financial and business conditions.
Stock Performance
The following performance graph compares the performance of DXP’s common stock to the NASDAQ Industrial Index,
S & P 400 Index and Dow Jones U.S. Industrial Suppliers Index. The graph assumes that the value of the investment in DXP’s common stock and in each index was $100 at December 31, 2016..
Investors are cautioned against drawing conclusions from the data contained in the graph below as past results are not necessarily indicative of future performance.
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Equity Compensation Table
The following table provides information regarding shares covered by the Company’s equity compensation plans as of December 31, 2021:
Plan category Number of Securities to be issued upon exercise of outstanding options Weighted average exercise price of outstanding options Non-vested restricted shares outstanding Weighted average grant price Number of securities remaining available for future issuance under equity compensation plans
Equity compensation plans approved by shareholders N/A N/A 112,044 $ 31.72 559,024 (1)
Equity compensation plans not approved by shareholders N/A N/A N/A N/A N/A
Total N/A N/A 112,044 $ 31.72 559,024 (1)
(1) Represents shares of common stock authorized for issuance under the 2016 Omnibus Incentive Plan.
Recent Sales of Unregistered Securities
The Company issued 20,793 unregistered shares of DXP’s common stock as part of the consideration for the September 20, 2021 acquisition of Premier. The unregistered shares were issued to the sellers of Premier.
The Company issued 61,177 unregistered shares of DXP’s common stock as part of the consideration for the July 1, 2021 acquisition of PMI. The unregistered shares were issued to the sellers of PMI.
The Company issued 351,945 unregistered shares of DXP’s common stock as part of the consideration for the April 30, 2021 acquisition of CVI. The unregistered shares were issued to the sellers of CVI.
The Company issued 852,391, 438,526, 192,988 and 40,638 unregistered shares of DXP’s common stock as part of the consideration for the December 31, 2020 acquisitions of TEC, APO, Pumping Solutions and CEC. The unregistered shares were issued to the sellers of TEC, APO, Pumping Solutions and CEC.
The Company issued 49,468 unregistered shares of DXP’s common stock as part of the consideration for the January 1, 2020 acquisition of PSI. The unregistered shares were issued to the sellers of PSI.
We relied on Section 4(a)(2) of the Securities Exchange Act as a basis for exemption from registration. All issuances were as a result of private negotiation, and not pursuant to public solicitation. In addition, we believe the shares were issued to “accredited investors” as defined by Rule 501 of the Securities Act.
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Repurchases of Common Stock
The following table presents information with respect to the Company’s repurchases of its common stock during the quarter ended December 31, 2021 (in thousands except average price paid per share):
Total Number of Shares Purchased (1)
Average Price Paid per Share
Total number of Shares Purchased as Part of Publicly Announced Plans or Programs
Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
October 1 – October 31, 2021 — $ — — $ 55,826
November 1 – November 30, 2021 — $ — — $ 55,826
December 1 – December 31, 2021 171 $ 25.40 171 $ 51,493
Total 171 $ 25.40 171 $ 51,493
(1) Represents shares repurchased by the Company during the period as part of our publicly announced share repurchase program. No shares were repurchased during the period from employees in satisfaction of minimum statutory tax withholding obligations upon the vesting of restricted stock.
ITEM 6. Reserved